Sample Questions

Real Estate License Sample Questions

6 practice questions with complete answer explanations.

Sample Questions

Question 1agency

An agent who represents both buyer and seller in the same transaction without full disclosure is:

A.Practicing undisclosed dual agency✓ Correct

B.Acting as a single agent

C.Practicing designated agency

D.Acting as a transaction broker

Explanation

Dual agency without disclosure is illegal. Agents must disclose and get informed consent from both parties.

Question 2fair-housing

Which of the following is NOT a protected class under the federal Fair Housing Act?

A.Income level✓ Correct

B.Race

C.Religion

D.Familial status

Explanation

The seven federal protected classes don't include income. Many states add additional classes (source of income, age, sexual orientation).

Question 3math

A home sells for $350,000. The listing agent earns 3% and the buyer's agent earns 3%. What is the total commission?

A.$21,000✓ Correct

B.$10,500

C.$14,000

D.$7,500

Explanation

Total commission = $350,000 × 6% = $21,000.

Question 4contracts

A buyer's earnest money is at risk if the buyer:

A.Defaults on the purchase contract without a valid contingency✓ Correct

B.Exercises a financing contingency after being denied a loan

C.Cancels due to unsatisfactory inspection findings under an inspection contingency

D.Backs out due to the seller failing to disclose a material defect

Explanation

Earnest money can be forfeited when a buyer defaults without a contingency protecting them.

Question 5appraisal

The most common appraisal method for single-family residential properties is:

A.Sales comparison approach✓ Correct

B.Income approach

C.Cost approach

D.Gross rent multiplier

Explanation

Sales comparison (market data) approach is primary for residential homes. Income approach for investment property. Cost for new construction.

Question 6financing

A property sells for $400,000 with 20% down. The LTV ratio is:

A.80%✓ Correct

B.20%

C.75%

D.100%

Explanation

LTV = loan / value = $320,000 / $400,000 = 80%.

Test-Taking Tips

1.Memorize the 7 federal Fair Housing protected classes — they appear on every state exam.
2.Agency relationships are heavily tested — know the difference between all types in your state.
3.Practice math problems daily: commission, proration, loan-to-value, mortgage calculations.
4.Use PrepAgent, CompuCram, or Real Estate Exam Scholar — they have high alignment to real exams.
5.Don't just read the textbook — do practice exams until you're consistently scoring 80%+.
6.Read state-specific law sections carefully — many students pass national but fail state.

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